Serengeti Resources has obtained induced polarization (IP) survey results from the Victoria project in Mexico. The survey has a strong open-ended IP chargeability anomaly, whose length and thickness are 2.2 km and 50 to 200 m, connected with outcropping mineralization of gold and silver that includes up to 5.6 g/t silver and 2.0 g/t gold over 22 m.
Two strong lead-arsenic soil anomalies are discovered by the company. The area of the first and second soil anomaly is 1,400 x 400 m and 450 x 450 m, respectively. The first anomaly is at the center over the outcropping mineralization and the second is an area enclosed completely with soil in the south parts of the IP chargeability anomaly. The company discovered soil anomalies with a hand-held XRF analyzer that can find elements like lead and arsenic, but not silver and gold.
Formerly, the company validated the existence of a large arsenic-gold-silver system present in the Victoria property. A surface trench returned more than 10,000 ppm arsenic, 2.0 g/t gold and 5.6 g/t silver over 22 m and the program conducted 300 m towards the northern part along strike yielded 4900 ppm arsenic, 0.32 g/t gold and 1.9 g/t silver over 23.5 m. The company gathered 21 surface grab samples, which returned 1.3 g/t gold, 4.4 g/t silver and more than 10,000 ppm arsenic. These samples are taken from a silica rib trending towards the northwest, which has a prominent 700 m of strike. Serengeti drilled two significant holes that cut strongly altered Caracol structure siltstones along with barite-calcite-quartz vein breccias.
Recently, an agreement has been inked between the company and a local individual in order to acquire many small claim in-holdings present in the Victoria claim block. The company is carrying out planning and obtaining permissions for completion of reverse circulation (RC) drilling during the first quarter of 2012. Numerous fences of holes are included in the campaign for analyzing the coincident IP chargeability, geological and geochemical targets located in the Victoria property.
Source: http://www.serengetiresources.com/